Canada Mortgage and Housing Corp urges lenders to avoid risky borrowers, but there’s no incentive for them to listen #LateStageSocialism – August 12, 2020,
Even though I personally have Marxism, I believe that Collectivists of all sorts have a right to existence and in Canada, there are periods in which I really appreciate the Bloc Quebecois. The Bloc Quebecois for the record stood up against Islamic extremists, who knows where Canada would be right now had it not been for the Bloc Quebecois making their Western European Christian values a central theme.
Well, now, recently the Bloc Quebecois has done what the Conservatives are terrified to do “push for election”. When I write about the Leftists in Canada splitting the vote and benefiting from it, this is what I mean. Sure the Bloc Quebecois has little to no chances of winning an election, but principally, they’re 100% correct.
Based on all the corruption that we can see in plain sight as it relates to Bill Morneau and Katie Telford if Trudeau is going to stand by their side, there needs to be an election to gauge how the Canadian people feel about this.
The Bloc Leader Yves-Francois Blanchet is right and this is part of the reason why even as a Conservative myself, I should always be opened to debate. This is also the reason why Canadians should never allow politicians to simply throw around the word racism to everyone. I forget when but NDP Leader in an attempt to get back more seats in Quebec called a member of the Bloc a racist, Trudeau did the same thing to a woman in Quebec.
Blanchet will push for election if Trudeau, Morneau, Telford won’t resign | CBC
Respect your opposition right to voice their opinion and have a debate, with that aside, I now write about CMHC, because if people remember, in the middle of this Morneau, Telford Scandal was the Canada Mortgage and Housing Corporation. If you forgot, allow me to refresh your memory…
Last week, National Post revealed that the Canada Mortgage and Housing Corporation (CMHC) — a federal crown corporation — had outsourced administration of the Canada Emergency Commercial Rent Assistance Program (CECRA) for small businesses to Silver’s company last May. The contract is currently worth up to $84 million.
I want people to allow that to settle in for a moment when you’re thinking about the article below titled “Canada housing agency urges lenders to avoid risky borrowers”. If there’s a housing crash, CMHC and the Bank of Canada(BoC) will be working together to make sure that the crash isn’t that bad.
The BoC and The CMHC have already shown that they will intervene if there’s a housing downturn, it’s not like they have a choice at this point, the only story to watch for in Canada is how much debasement of the Canadian currency are we talking about and how slowly will this debasement of the Canadian dollar happen.
Canada housing agency urges lenders to avoid risky borrowers | reuters.com
Being that, mortgage deferrals are the new normal I want to remind Canadians that, a mortgage deferral without the government’s help was actually defaulting on mortgage payments. I don’t know the number as of Augst 12, 2020 but in May 29, 2020, Geoff Zochodne wrote the following title to his article.
Big Six banks have offered deferrals on more than $180 billion in mortgages so far | Author of the article:Geoff Zochodne, Publishing date:May 29, 2020 , financialpost.com
That total represents more than 14% of residential mortgages on the balance sheets of chartered banks
So when I read the article below, I have to scratch my head, I comprehend that most Canadians aren’t noticing the correlation between CHMC’s warning and their connection with Bill Morneau and Katie Telford, but that’s what happens when a country enters a stage of Late Stage Socialism, there’s so much corruption that nobody can pay attention to major players who are getting the least attention.
I’m not hearing anything about dissolving the CMHC, why? Because the CMHC if I’m not mistaken is Canada’s top-performing cash flow producing crown corporation. Furthermore, for a lot of Canadians who don’t qualify for an inflated mortgage, CMHC is their only hope.
Of course, if Canadians could experience a deflating housing market, a lot of these over-priced rental and mortgage prices wouldn’t exist. By I don’t have time to break down a free market economy versus a Socialist economy, at the very least with a free market economy there are rock bottom prices, governments don’t want prices to deflate, because the public sector is dependent on it.
Anyway, CMHC paved the way for lenders to offer high-risk mortgages, CMHC paved the way for private mortgage insurers to take on more risk, and as long as CMHC exists, there is no incentive for lenders or mortgage insurers not to take on more risk, than they would in a free market economy because CMHC exists for their benefit and the Bank of Canada has proven time and time and again that it’s willing to do whatever is necessary to keep the market liquid.
The only question left is how more much will the Canadian dollar be debased DOMESTICALLY! Because like it or not public servants will get paid whether enough taxes are collected or not!
CMHC urges lenders to stop offering so many high-risk mortgages | CBC
Interesting times ahead!